Business Management: Essential for Achieving Business Goals and Objectives - Essay Sample

Introduction

A business develops alongside a bundle of complexities before it profoundly establishes its presence in the market. With escalating complications, managing a business has become a tedious task to most of the managers manning the enterprises. Business management is essential for any firm that suits making profits. A company must have milestones of which guide the stakeholder of the firm on how to perform various tasks required to make it reach the short -term and long-term objectives. A business must contain a common goal to land on the success of the goals set. The employees must work as a team to make it to the success of the designated plan of the business all the same.

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Management is an essential aspect of a business that shows progress and the future of the plan all the same. Management is a vital aspect of the economic life of business due to the management of resources required to make maximum output from minimum costs. Management tends to put two or more people together centered on creating a common goal in an organization (Aprilius, 2018). However, organizing is a function in management that helps in planning the milestones of a business. A firm needs to organize what to do on their day to day activities, thus avoiding confusion while working. The organizing aspect also helps in making the ground more comfortable when making projections on the levels to be in a specified period. The future of the business can only be guaranteed if a designated plan for a business is done to make the work easier for the management. Therefore a company must have a program that contains the manual on how to learn the market ahead.

A business plan contains different sections guiding the business destination. The segments vary from the executive summary, marketing growth and strategy, competition part, business model, and financial projection of the entire business (Hisrich, & Ramadani, 2018). With the aid of an analyzed business plan, each employee is aware of the responsibilities rendered to each, thus fleeing away from confusion and frustrations when carrying out the tasks. Below is a discussion on how business success is directly proportional to the plan put in place.

Max properties are a company that has a designated plan showing operations to be carried out in three years. The company will deal with the sale of properties ranging from plots of land, vehicles, and electronics in general. The plan has a different department that will help in making the goal of huge profits as a result of the teamwork instilled by the workers in the company. The plan is meant to organize and put in place the required tasks to be carried out by the employees in the respective departments (Steenkamp, 2018). The departments involved in Max Properties Company include commercial sales, residential sales, marketing, administrative, accounting, property management, and maintenance departments. The department put in place has employees who are united by the goal to make profits for the firm. The employees are guided by the plan to avoid any confusion that may come their way.

The designated plan contains the roles done by the employees in each department. For instance, the marketing department has the mandate to promote the real estate business by driving sales to as many clients as possible. The department is also expected to do proper research on the market trends and the need s of the potential customers. The study also helps the business in determining the niche through which it should land. The marketing department also has the mandate to connect the customers to the products in the market (Steenkamp, 2018). With the information pinned on the plan, employees will also know that promotion is their duty. The marketing department also has the mandate to make new development of the business through the identification of the new opportunities for the firm. The research is done to make better the productivity of the company in terms of productions to endorse the worthiness of the same. The designed plan contains the roles that should be associated with the marketing department, thus enabling the employees to have an excellent capture of what tasks to undertake without confusion and thus avoiding frustrations.

Max properties as a company that has various departments, distribution of resources is another case that makes a lot of sense in the organization of the firm's future. Without a sound plan, the resources allocation to various departments cannot be guaranteed (Foley, 2018). The distribution of resources in a firm can be affected by the plan according to the number of units written down and are required for sale. With the plan indicating the number of the units needed in a day for sale, the resources will always be available to produce the target listed on the project. For instance, Max properties plan to indicate sales of goods worth 10,000 dollars a day means resource allocation should suit the expected output by the end of the day.

The plan indicating the mix of employees and needs across the departments should be a better relationship of working towards one goal; thus, success in output (Foley, 2018). For instance, the maintenance department works with the entire firm due to its diversity in carrying out its roles. The primary function of the department is to keep in a good physical working condition in an organization. Both reactive ad proactive maintenance in an organization helps to stay away from failure or decline. The mix of the employees should be encouraged to make the departments work as a team to meet the goals of the company of the firm.

The plan also contains the forecast of business state in some years to come. The analysis can be shown through graphs to display the actual projected position of a business with the utilization of resources in the right way, well-calculated marketing strategies, and also a good employee's procedure. The graph below (figure 1) shows projections of the max properties from the first year as $1000000 profit, $1100000 and $1200000 indicating a rise of 10% increase in the gains made by the company. For a business to have milestones to follow projections are better since they draft the figures and a vivid picture of the market in some time to come.

Conclusion

In conclusion, the improved effectiveness is justified by the experience gained by the employees and confidence due to repetitive activities in their respective departments. Business effectiveness can be measured with how well the company workforce creates a better image to given better conditions. The graph below (figure 2) shows how improved efficiency can increase resource utilization, thus reducing waste, which plays a significant role in contributing to profits made (5%) by the firm.

Figure 1 1

Figure 2

References

Aprilius (2018, October). Strategy for Development of Small and Medium Micro Business Using SWOT and Quantitative Strategic Planning Matrices (QSPM) Analysis (Case Study of Panama Remake Restaurant). In 1st International Conference on Social Sciences (ICSS 2018). Atlantis Press.

Foley, J. (2018). We need to talk about owner-managers and financial awareness!. Small Enterprise Research, 25(1), 90-98.

Hisrich, R. D., &Ramadani, V. (2018). Entrepreneurial market segmentation. In Entrepreneurial Marketing. Edward Elgar Publishing.